Answer:
6.517%
Step-by-step explanation:
This is a multi-year investment and we are not working with a $1 initial investment. There is no mention of compounding so we will use formula A=P0⋅(1+r)N with A=$18,434 and P0=$14,320. We do not know the value of r. However, N=4 years. Substituting the values we have $18,434=$14,320⋅(1+r)4. Divide both sides of the equation by $14,320. Next, take the fourth root of both sides of the equation and subtract 1 to find the decimal form of r.
$18,4341.287291.065170.06517=$14,320⋅(1+r)4=(1+r)4=1+r=r
Finally, convert r to a percent.
r=0.06517×100%=6.517%
Answer:
In the pictures below
Step-by-step explanation:
The answer is 5.19615242271 but if you round it to the nearest dp its 5.2
Step-by-step explanation:
